News stories from Friday August 15, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Carter continued his attack on the Republicans following the convention. In an address to the Democratic National Committee in New York he also stressed another developing Democratic campaign theme the clear choice offered by the election. "With the possible exception of Goldwater versus Johnson there has never been a sharper distinction about what this election can mean," he said. [New York Times]
- Senator Kennedy's awkward encounter with President Carter on the podium at the Democratic convention's close raised questions about how vigorously Kennedy Democrats will help the Carter campaign this fall. The President and aides from both camps said they were satisfied with Mr. Kennedy's show of unity and insisted that not much more could have been expected in view of their long-standing rivalry. Nevertheless, Mr. Kennedy's evident lack of enthusiasm for the traditional unity ritual was the talk among departing delegates. [New York Times]
- President Carter and black delegates who attended the convention held a private meeting, attended by nearly 200 of the delegates, in New York and the President reportedly pledged that his administration would put the unemployed back to work and fight what many of the delegates believe is a resurgence of anti-black groups, such as Ku Klux Klan. Mr. Carter said that he would "put the Klan back in its grave," a delegate reported. [New York Times]
- Prices at the producer level surged 1.7 percent in July, the largest monthly increase in nearly six years, according to the Labor Department. This sharp rise in the prices that retailers pay for finished goods was attributed largely to a climb in food prices of 3.8 percent last month that resulted from the drought in much of the farm belt. [New York Times]
- A desegregation administrator for the Cleveland school system was appointed by a federal judge in response to the slow pace of court-ordered desegregation. Judge Frank Battisti chose Dr. Donald Waldrip, a former superintendent of schools in Cincinnati, and gave him wide-ranging powers to carry out the desegregation order. [New York Times]
- A videotape raised laughter in the courtroom as the first Abscam bribery and conspiracy trial continued. It depicted what the prosecutor said was a bungled attempt by the Mayor of Camden, N.J., and a lawyer from Philadelphia to dupe Arab representatives -- actually federal undercover agents. The videotape showed the lawyer at a meeting unsuccessfully trying to pass himself off as the second-highest immigration official in the United States. The "immigration official" raised the agents' suspicions by getting his own name wrong. [New York Times]
- Brink's Inc. was robbed of $1 million in cash in San Francisco, apparently by one its own security men. George Bosque, 25 years old, identified as a Brink's guard, allegedly seized an armored truck that he was supposed to be guarding at the San Francisco International Airport, drove to a nearby hotel, commandeered a car and sped away with two bags of money. [New York Times]
- The remains of the Titanic are believed to have been located by sonar probe of the North Atlantic by a search team. Sonar signals indicated that an object "the right length, the right width and the right height of the Titantic" was found 12,000 feet down in an underwater canyon, in the same vicinity, 400 miles southeast of Newfoundland, where the "unsinkable" luxury liner sank on April 15, 1912, with loss of more than 1,500 lives. [New York Times]
- Industrial strife In Poland spread as bus drivers in the major port city of Gdansk joined a walkout by shipyard workers, halting municipal transportation. Between 50,000 and 60,000 shipyard workers are said to have walked out. Prime Minister Edward Babiuch appealed to the workers to return to their jobs. He warned that the government would not rescind the increases in meat prices that have prompted more than 150 strikes across Poland in the past two months. [New York Times]
- Resumption of the autonomy talks between Israel and Egypt, with the United States as a participant after the November elections, was proposed by President Anwar Sadat in a letter to Prime Minister Menachem Begin. Mr. Sadat said that he saw no way of resuming the talks now. [New York Times]
- South Korea's President resigned and Gen. Chou Too Hwan, the army strongman, is expected to succeed him next week. President Choi Kyu Hah had little influence on policy since he took office last December. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 966.72 (+4.09, +0.42%)
Arms Index is the ratio of volume per declining issue to volume per advancing issue; a figure below 1.0 is bullish. | |||||||||||||||
| Market Index Trends | |||
|---|---|---|---|
| Date | DJIA | S&P | Volume* |
| August 14, 1980 | 962.63 | 125.25 | 47.65 |
| August 13, 1980 | 949.23 | 123.28 | 44.37 |
| August 12, 1980 | 952.39 | 123.79 | 52.04 |
| August 11, 1980 | 964.08 | 124.78 | 44.69 |
| August 8, 1980 | 954.69 | 123.51 | 58.86 |
| August 7, 1980 | 950.94 | 123.30 | 62.37 |
| August 6, 1980 | 938.23 | 121.55 | 45.02 |
| August 5, 1980 | 929.78 | 120.74 | 45.51 |
| August 4, 1980 | 931.06 | 120.98 | 41.57 |
| August 1, 1980 | 931.48 | 121.21 | 46.43 |